Colonial Trust Co SC Raises Stock Position in Cintas Corporation $CTAS

Colonial Trust Co SC lifted its position in Cintas Corporation (NASDAQ:CTAS) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,448 shares of the business services provider’s stock after buying an additional 2,883 shares during the period. Colonial Trust Co SC’s holdings in Cintas were worth $4,222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Cintas by 9.3% during the 4th quarter. Brighton Jones LLC now owns 1,268 shares of the business services provider’s stock valued at $232,000 after acquiring an additional 108 shares during the period. Sivia Capital Partners LLC lifted its stake in Cintas by 42.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 1,441 shares of the business services provider’s stock valued at $321,000 after acquiring an additional 428 shares during the period. Gamco Investors INC. ET AL acquired a new stake in Cintas during the 2nd quarter valued at approximately $625,000. Treasurer of the State of North Carolina lifted its stake in Cintas by 20.3% during the 2nd quarter. Treasurer of the State of North Carolina now owns 212,192 shares of the business services provider’s stock valued at $47,291,000 after acquiring an additional 35,781 shares during the period. Finally, Ieq Capital LLC lifted its stake in Cintas by 50.2% during the 2nd quarter. Ieq Capital LLC now owns 92,924 shares of the business services provider’s stock valued at $20,710,000 after acquiring an additional 31,068 shares during the period. Hedge funds and other institutional investors own 63.46% of the company’s stock.

Cintas Stock Performance

CTAS opened at $181.88 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74. The firm has a fifty day moving average price of $173.46 and a 200 day moving average price of $184.35. Cintas Corporation has a 1 year low of $161.16 and a 1 year high of $226.75. The stock has a market cap of $72.77 billion, a P/E ratio of 51.38, a P/E/G ratio of 2.87 and a beta of 0.94.

Cintas (NASDAQ:CTAS) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.24. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.82 billion. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. Equities research analysts anticipate that Cintas Corporation will post 4.89 earnings per share for the current year.

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, May 15th. This represents a $1.80 dividend on an annualized basis and a yield of 1.0%. Cintas’s dividend payout ratio is currently 50.85%.

Analysts Set New Price Targets

Several brokerages have commented on CTAS. UBS Group restated a “buy” rating on shares of Cintas in a research note on Thursday, March 12th. Bank of America began coverage on shares of Cintas in a research note on Tuesday, February 17th. They set a “neutral” rating and a $215.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of Cintas from $222.00 to $190.00 and set a “hold” rating for the company in a research note on Thursday, March 26th. Robert W. Baird upgraded shares of Cintas from a “neutral” rating to an “outperform” rating and set a $250.00 target price for the company in a research note on Wednesday, March 11th. Finally, Citigroup decreased their target price on shares of Cintas from $181.00 to $160.00 and set a “sell” rating for the company in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $215.17.

Insiders Place Their Bets

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the company’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director directly owned 22,448 shares in the company, valued at approximately $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 14.90% of the company’s stock.

Cintas Company Profile

Cintas Corporation (NASDAQ: CTAS) is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.